PM on turnaround in the economy: “We have surprised everybody!”

PM on turnaround in the economy: “We have surprised everybody!”

PrimeMinister Doctor Kenny Anthony, declaring that the national economy is on the way to recovery and attracting local and foreign investment, has asserted that his administration has surprised everybody.

“Certainly I would say that we now have an environment of confidence in the future of this economy which is an important thing because without confidence an economy cannot develop and grow,” Anthony said.

However he warned that Saint Lucia is not out of the woods, since there are difficult decisions to be made.

Responding to critics who have argued that the Saint Lucia Labour Party, SLP, administration should have delayed the implementation of VAT, Anthony recalled that there was a clear commitment in his party’s election manifesto to introduce the measure.

“There was little alternative, but also how much longer could Saint Lucia have remained as the single country in the Eastern Caribbean without VAT when all other countries of the Eastern Caribbean, and those in Caricom had moved in the direction of VAT,” the Prime Minister said.

Alluding to what he called the unstoppable march towards VAT, Anthony admitted that the measure was introduced at a time when the economy was in contraction.

However he said that at the time everybody understood that in a situation where the financial markets were difficult, the countries of the Caribbean were not able to attract that easily the badly needed revenue needed to pay for social services and meet the cost of the public service.

“Despite the fact that VAT was introduced in a period of economic downturn we are now seeing the benefits,” he asserted, pointing to an upward trend in revenue as an example.

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1 Comment

  1. keepingitreal
    November 15, 2015 at 7:00 pm Reply

    Yup, KennyNomics at its best, Economy at a great turnaround for Kenny and Kennys group of party Hacks.
    Kenny your forgot the the country your fellow men St. Lucians.
    Speaking of which Mr. Brian Louisy your term of office at the Chamber of commerce is not a career get out you had 2 terms and not 15 years plus.
    Time to put teeth back into this country and get a better judiciary system in place too.

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